An overview by Bruchou & Funes de Rioja, Taxand Argentina
The Argentinian government has recently implemented General Resolution No. 5570/2024 which introduces important updates to the Special Income Regime for Personal Property Tax (REIBP).
Experts from our Argentinian member firm Bruchou & Funes de Rioja have provided an overview of some of the key changes which include:
Joining the REIBP: Allows resident subjects and undivided estates to join the REIBP for assets not regularized under the Asset Regularisation Regime (RRA), provided they have a determined tax for 2023.
Tax Residency: Those reacquiring tax residency in Argentina must meet specific conditions and designate a tax responsible party.
Tax Determination: Tax will be based on assets as of 31 December 2023, with certain exclusions and valuation rules.
Tax Base: The taxable base includes all regularised assets across RRA stages, converted to pesos using the Banco de la Nación Argentina’s exchange rate.
Benefits to Heirs: Benefits extend to the surviving spouse and heirs.
Additional Tax: Applies to donations or purchases below market value and certain conditions regarding asset retention or replacement.
These modifications affect how taxpayers join, pay, and report under the REIBP, and include adjustments for previous payments and changes in asset valuation.
